Two-Bedroom Residential Income
993 HEATHER RIDGE DRIVE Unit 5H, Frederick, MD 21702
For Sale
$175,000
A two-bedroom condo features an open floor plan and recent interior updates.
Property Size950 SF
Price / SF$184.21
Days on Market76
Property Features for 993 HEATHER RIDGE DRIVE Unit 5H
General Information
Standard status
Size
Property subtype
Additional Details
Highway Access
Multifamily Units
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Listing Agency:
Keller Williams Realty Centre
Listed By:
Robert J Krop · License #35299
(301) 524-2887
Source:
Catoctinproperties
Added: Aug 25
Changed: Nov 5
Last Checked: Nov 6 at 7:15AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Keller Williams Realty Centre
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 950-square-foot, two-bedroom condo was built in 1981 and has an open-concept floor plan. New flooring and paint, newer appliances, and windows and HVAC that are two years old are among its features.
The property is near shops, dining, highways, a hospital, Fort Detrick, and Hood College.
The property is near shops, dining, highways, a hospital, Fort Detrick, and Hood College.
Key Highlights
- 950‑square‑foot condo with two bedrooms
- Open‑concept floor plan
- New flooring and paint; newer appliances
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,926
Cap Rate
7.39%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$258,520
$258.5K
Cap Rate 7%
$184,657
$184.7K
Cap Rate 9%
$143,622
$143.6K
Market Conditions
NOI Build-Up for 950 SF
Gross rent
$24.7K $26.04/SF
− Vacancy
−$1.2K −$1.30/SF
EGI
$23.5K $24.74/SF
− OpEx
−$10.6K −$11.13/SF
NOI
$12.9K $13.61/SF
Area
Frederick County, MD
Vacancy
5.00%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$258,520
Cap Rate 7%
$184,657
Cap Rate 9%
$143,622
Alternative Uses
Best Use
Apartment 5plus
$184.7K
$161.6K – $215.4K
NOI $12,926 @ 7.0% cap · market cap 7.39%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$352.0K
$308.0K – $410.7K
NOI $24,641 @ 7.0% cap · market cap 14.08%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,461
Businesses Nearby
Explore this area
Business Placement
Demographics for 21702, MD
46,412
Population
18,677
Households
2.5
Avg Household Size
37
Median Age
40%
College-Educated
89%
High-School Grad
41.7 sq mi
ZIP Area
1,113
Density / Sq Mi
$104,659
Median Household Income
$55,937
Median Earnings
$1,722
Median Rent
$384,800
Median Home Value
Market
Average Price Trend$/SF for Residential income properties in Frederick County, MD
Properties on Market for Residential income properties in Frederick County
Frequently Asked Questions
What type of property is this?
Residential income property - A two-bedroom condo features an open floor plan and recent interior updates.
Where is this residential income property located?
The property is located at 993 HEATHER RIDGE DRIVE Unit 5H Frederick, MD.
What is the asking price?
The asking price for this property is $175,000.
What are key features of this property?
This property features: 950‑square‑foot condo with two bedrooms; Open‑concept floor plan; New flooring and paint; newer appliances
